Excellent living standards and communities for foreign nationals and their families

Access to a highly developed communications infrastructure

Target Sectors for Investment

Inorganic Chemicals

The expansion in the utilization of our natural gas led to the creation of a diversified and sustainable petrochemical industry.

At present, Trinidad and Tobago is desirous of developing an inorganic chemical industry in an effort to further diversify the downstream energy sector. As such National Energy the arm of the Government responsible for the expanding the downstream energy sector is seeking to attract and work with interested Chinese companies wanting to develop an inorganic chemical producing facility in the island. National Energy has explored an integrated caustic soda complex but is not limited to caustic soda production and is open to investors who may be willing to establish other types of inorganic facilities in the country.

Raw materials from Trinidad and Tobago or the CARICOM region can be sourced for proposed projects.

For example, ammonia, methanol, limestone and natural gas are available in the country and region and can be source of raw material for an integrated complex.

Additionally, inorganic chemical projects would be afforded incentives as highlighted in the above “Trinidad and Tobago Taxation System and Financial Stability” section and benefit from the several advantages of locating facilities in Trinidad and Tobago.

For example, the economics of an integrated or standalone inorganic chemical plant would be enhanced by the low electricity costs in the island as electricity is one of the major cost elements in operating such a facility. Electricity in the country is both competitive and highly reliable and as such production costs in Trinidad should be lower than in both the United States and European countries. Trinidad and Tobago’s electricity cost at US$0.03/kWh is approximately half the average charge to industrial customers in the U.S for 2014 at US$0.73/kWh. (U.S Energy Information Administration 2014)

Proposed projects from interested parties are assessed, prior to being recommended for further development, according to set criteria that include a technology evaluation, market analyses, impact on the environment and economic viability.

Not with standing the thrust towards the inorganic chemical sub-sector, National Energy is pursuing the expansion of the Petrochemical Industry and the establishment of Renewable Energy Technology and Energy-Based Manufacturing industries.

Petrochemicals

Ammonia and Downstream

In 2014, Trinidad exported approximately 4.5 million metric tonnes of ammonia. National Energy is seeking investment for an ammonia and downstream complex utilizing natural gas to produce ammonia and derivatives such as urea, urea ammonium nitrate (UAN), Melamine and Diammonium Phosphate (DAP).

Methanol and Downstream

In 2014, Trinidad exported approximately 5.6 million metric tonnes of methanol. National Energy is desirous of developing the downstream opportunities from methanol such as:

Acetic Acid

Formaldehyde

Polyethylene

Polypropylene

Propylene Oxide

Other potential areas for investment include acrylates, acrylic acid and oxoalcohols.

National Energy is not limited to receiving proposals for projects only from the areas previously listed, but also welcomes investors to propose projects that can be of mutual benefit.

Renewable Energy Technology Manufacturing

Solar Module Manufacturing

We are also currently exploring the potential for photovoltaic (PV) module manufacturing in the country. We have already identified sites with ready access to ports for locating such projects and welcome investment in this new and sustainable industry to our shores.

Energy Based Manufacturing

National Energy has been focusing on developing linkages between the energy and manufacturing sectors in order to maximize on the full value of our resources. Currently, the downstream chemicals produced in Trinidad and Tobago from ammonia and methanol are urea ammonia nitrate (UAN) and melamine.

National Energy is pursuing the advancement of energy-based manufacturing industries from methanol and ammonia and for their derivatives to produce consumables such as but not limited to plasticizers, coatings, adhesives, laminates for pharmaceuticals.

Trinidad & Tobago is a stable English-speaking democracy with a strong Energy sector, and is recognised as the region’s capital for Financial Services. It is strategically located as a prime commercial gateway between North and South America. Trinidad and Tobago is business friendly, agile and welcomes foreign investment.

As such, Trinidad and Tobago possesses a favourable tax system and a robust regulatory framework that can be beneficial to Chinese investors. Also, investors will be able to access fiscal incentives once all requirements are met, benefit from low utility costs and gain entrance to the Americas marketplace.

Enablers include strong credit ratings that compare favourably across the region. In April 2015, Moody’s bestowed upon Trinidad and Tobago an investment grade of Baa2 based on a strong government balance sheet, moderate and affordable debt burden and strong external position. In December 2014, Standard & Poor’s Ratings Services (S&P) affirmed its ‘A/A-1’ long- and short-term (investment grade) sovereign credit ratings given to the country. Giving its rationale, S&P said: “T&T’s net external asset position, low external vulnerability and stable political system support the ratings.

Our financial system which accounts for 12 per cent of GDP, is well-organised, soundly-regulated and plays a pivotal role in the economy. The Central Bank of Trinidad & Tobago operates independently of Government in determining monetary policy and setting discount rates and reserve requirements. It regulates operations of the commercial banks and other financial institutions.

Trinidad and Tobago Tax System

The principal taxes in Trinidad and Tobago are income tax, corporation tax, business levy, various petroleum taxes, value added tax (VAT), withholding tax and customs and excise duties. There are no restrictions on repatriation of capital, profits, dividends, interest, distributions or gains on Investment.

Corporate Tax Rates

Chinese companies stand to benefit from a stable tax rate. Corporation tax is charged at a rate of 25% on chargeable profits and short term capital gains for companies in the downstream energy-based manufacturing sub-sector and other types manufacturing concerns.

A rate of 35% is applied for companies engaged in liquefaction of natural gas, manufacture of petrochemicals, transmission and distribution of natural gas and wholesale marketing and distribution of petroleum products. It is important to also note that petroleum companies involved in production and refining operations in Trinidad and Tobago operate under a separate tax regime.

Business Levy

Business levy at the rate of 0.6% is charged yearly on the gross income of a company The company is entitled to a tax credit against its business levy liability for a year of income of any payment made in respect of its corporation tax liability for that year up to a maximum of its business levy liability.

Green Fund Levy

Green Fund Levy is charged at the rate of 0.3% of the company’s gross income, that is, all income received in the ordinary course of business before allowing any deductions for business expenses.

Tax Treatment of Losses

For corporation tax purposes, a company's ordinary trading losses may be carried forward and set off against the first available future profits (excluding short-term capital gains), without time limit. Losses may not be carried back.

Fiscal Incentives Available to Chinese Investors

The government’s economic policy is geared towards the development of a robust and open market-driven economy. The Government has made a commitment to actively encourage foreign investment in Trinidad & Tobago. As such legislation removing restrictions on foreign investment and providing various incentives to investors has been enacted.

Various forms of tax relief and other incentives may be applied for and obtained under the Trinidad and Tobago Free Zones Act, Chap. 81:07 and under the Fiscal Incentives Act, Chap. 85:01. Both statutes require that certain pre-requisites be satisfied before a company can become eligible for the tax relief benefits being offered.

The Incentive Regime is comprised of:

Fiscal Exemptions

Import Duty Concessions

Research and Development Facility

Free Zones

Cost Benefits and Incentives

Free Trade Zone

The country has comparable incentives to other regional locations. Chinese investors can benefit from being located in a free zone where they are exempted from customs duties, value added tax and income tax on dividends for an indefinite period. There is 100% ownership of locally registered companies; there are no foreign exchange controls, and companies can enjoy full repatriation of funds. Incentives for staff training will also be considered based on the specific needs of the operator.

Market Access

Trinidad and Tobago provides access to an extended market of over 700 million people through bilateral trade agreements with Venezuela, Colombia, the Dominican Republic, Costa Rica, France, USA, Canada, and Cuba, Europe.

The country also participates in a trade programme known collectively as the Caribbean Basin Initiative (CBI), which is a vital element of the United States economic relations with its neighbours in Central America and the Caribbean.

Cost Effectiveness

Trinidad and Tobago has been ranked 1st for cost effectiveness in Central America and the Caribbean. Electricity rates within Trinidad & Tobago start as low as US$0.03/KWh offering Chinese investors access to some of the lowest electricity tariffs in the Western Hemisphere, and significantly lower than average rates in China.

Low Operational Costs

Based on a cost comparison by FDI Benchmarks (A service of Financial Times Limited 2015) Trinidad and Tobago is the second cheapest location within the Caribbean and Latin American regions when the costs of electricity, water, telecoms and natural gas are compared.

Fiscal Incentives

Under the Fiscal Incentives Act Chapter 85:01 large scale manufacturing including petrochemicals and inorganic chemicals or processing companies established in Trinidad and Tobago can receive an exemption from paying customs duties, Value Added Tax on the costs related to the production of approved products and or services.

Import Duty Concessions

Manufacturing enterprises are allowed duty free treatment on their raw materials, machinery and equipment and in some cases packaging material based upon the provisions of the country’s Customs Act.

Profit Remittance and Capital Repatriation

There are no restrictions on repatriation of capital, profits, dividends, interest, distributions or gains on investment. Repatriation may be effected through the commercial banking sector. There remains the liability to pay withholding tax, where applicable.

Allowances for Capital Costs

All companies carrying on a trade, business, or profession are entitled to annual wear and tear allowances on their machinery and equipment, calculated according to the declining-balance method. In the first year, the initial and annual allowances are calculated on cost. Thereafter, annual allowances are calculated on the balance of cost after deducting the allowances previously granted.

Accelerated tax depreciation is allowed to manufacturers in the form of an initial allowance at the rate of 90% on capital expenditure on plant and machinery. For those companies engaged in the production of petrochemicals, or enjoying concessions under the Fiscal Incentives Act, the rate is 20%.

A - Buildings and Improvements

B - Plant and machinery, motor vehicles, furniture

C - Heavy equipment, trucks, computer equipment

D - Aircraft and Extra Heavy Equipment

Foreign Ownership

The Foreign Investment Act provides for the acquisition by foreign investors of an interest in land or shares in local private or public companies and for the formation of companies by foreign investors. In summary, the Foreign Investment Act, 1990 makes the following provisions:

A foreign investor is permitted to own 100% of the share capital in a private company, but prior to the investment the Minister of Finance must be notified.

Foreign investors are permitted to own up to 30% in total of the share capital of a local public company without a licence.

A licence is required to permit foreign investors to own more than 30% in total of the share capital of a public company.

A foreign investor may acquire interest in land for business purposes up to five acres without having to acquire a licence. For any further acreage in excess of the five acre limit, a license must be acquired from the Minister of Finance prior to acquiring such acreage.

By locating operations in Trinidad and Tobago, Chinese investors will be able to access a suite of fiscal incentives. Additionally, you can have confidence in knowing that Trinidad and Tobago possesses a strong financial system, comparatively low operating costs, market access to the 700 million plus people that make up North and South America region and that your investments are welcomed and respected.

As Chinese energy companies seek to expand their business overseas, Trinidad and Tobago is the first port of call in the Caribbean. The island nation is the region’s largest producer of oil and gas, which account for a whopping 40% of its GDP and 80% of exports.

Starting with the drilling of the first oil well near the Pitch Lake in South Trinidad in1857, over more than the past 100 years Trinidad has produced more than three billion barrels of oil. Estimated crude oil reserves in 2013 reached about 728 million barrels, according to the EIA, and the nation shows no signs of slowing down.

In addition to oil, Trinidad also has a booming natural gas sector, with its Phoenix Park Gas Processors Limited among the largest natural gas processing plants in the Western Hemisphere. The facility is based in the Port of Savonetta and boasts processing capacity of nearly two billion cubic feet daily, or a daily output capacity of 70,000 barrels.

It is no surprise that the roster of oil and gas companies operating in Trinidad includes the world’s largest players, with major Chinese oil players such as LandOcean entering the market. Given that Trinidad’s oil and gas sub-sectors are seeing a surge in the realm of deep water exploration, and have received a recent nod of acknowledgement for their adherence to international laws and transparency, there is no better time than now for Chinese firms to consider establishing operations in the country.

We spoke with Dr. Thackwray“Dax” Driver, Chief Executive Officer of Trinidad’s Energy Chamber, about what these exciting developments mean for Chinese investors eager to engage the country’s energy sector.

Relative to other countries, can you briefly describe the current state of development of Trinidad and Tobago’s (Trinidad for short, going forward) trade and economic relationship with China in the energy sector — in particular?

Trinidad & Tobago has a very long history in the oil and gas industry, going back well over a century. There has traditionally been limited trade and economic relationships between Trinidad &Tobago and China in the energy sector, but this has been changing in the recent past mainly through Chinese companies investing in our energy sector. In the upstream sector, Chaoyang Petroleum (BVI) Limited, a consortium between CNOOC and Sinopec, hold a 25% non-operator interest in the offshore Angostura oil and gas development operated by BHP Billiton.

Another Chinese company, LandOcean, is a major investor and strategic partner in the London-listed Range Resources, who hold various exploration and production blocks onshore Trinidad. There are also a number of Chinese companies active in the energy services sector, such as Kerui Group who have been supplying equipment and services to the oil industry, in particular in the drilling sub-sector. There is also Chinese state investment in the Atlantic Liquefied Natural Gas facility. In terms of trade, there are very limited volumes of products from Trinidad to China. There are occasional LNG cargoes that do make it to China and we also supply asphalt to China from the world famous La Brea pitch lake.

I’ve read that one of the major new investors in Trinidad is the Chinese advanced oil recovery company LandOcean. Is LandOcean a trailblazer among Chinese oil firms in Trinidad’s oil sector, or one of many already involved? Do you expect the company’s presence to trigger a wave of Chinese investment in the oil industry?

LandOcean has entered the Trinidad market through their strategic alliance and investment in Range Resources. They are active in both the drilling sector and, through Range, in oil production. They have also stated their intention to become involved in other sectors including seismic data storage. They are not the first Chinese company to invest in our oil sector, but they have been very active in the recent past and are playing an important role at the moment.

Through their involvement in the drilling sector, they are interacting with a wider number of established companies in Trinidad. Given our very long history in the industry, Trinidad & Tobago has many skilled professionals in the energy industry and companies with long histories of involvement in the sector. This creates the opportunity for sharing of knowledge and technology between Trinidad and China.

What are some of the specific projects that are or will be open for investment in Trinidad’s downstream energy sector, which could potentially be of strong interest to Chinese investors?

Trinidad’s downstream petrochemical and gas processing sector underwent a period of rapid growth between the mid-1990s and the late 2000s. For the past seven years there has been limited new growth in the petrochemical or gas processing sectors. The focus of investment over the past few years has been in the upstream, to ensure that we are able to find new gas reserves and maintain production at current levels. Given the expectation for future gas finds and increased gas production going forward, National Energy – our state agency responsible for developing energy projects – is currently developing a suite of downstream energy projects that will allow us to further expand down the energy value chain closer to final products for markets in CARICOM and to supply the expanding Latin American market from our strategic location in the Americas. Our latest downstream project to receive approval is a methanol and DME plant, with investment from Mitsubishi Corporation, the Trinidad & Tobago National Gas Company and a local conglomerate, Massy. Other projects being developed by National Energy and which they are seeking to attract investment include plastics, inorganic chemicals and renewable technology manufacturing.

What does EITI compliance mean for Trinidad and China in terms of potential collaboration and investment?

Trinidad & Tobago achieved EITI compliance in February 2016. This means that the global EITI movement recognized our efforts to provide comprehensive information, verified by an independent third-party, on the revenue received from the upstream oil and gas industry by the Government of Trinidad & Tobago. Compliance with EITI gives international investors increased assurance about Trinidad & Tobago’s adherence to international standards of governance and a commitment to transparency. The EITI reports, available online, are also an excellent source of information about the upstream energy sector.

Trinidad & Tobago has introduced a number of reforms to encourage investment over the past few years, including tax incentives to encourage new exploration and development in the upstream energy sector. Trinidad & Tobago offers a level playing fields for investors from all countries and we welcome direct foreign investment from any part of the globe.

How significant do you envision Chinese investment to be in Trinidad’s energy sector a decade or two down the line, compared with that of other nations?

Traditionally our major investors in the energy sector have been from the United Kingdom, the United States, Canada and Germany. As a country we are open to investment from all sources, including from China. The opening of the new Trinidad and Tobago Embassy in China should help to foster deeper economic and social ties between the two countries and we look forward to welcoming new investors from China in the future.

The Energy Chamber of Trinidad & Tobago organizes the major energy sector conference in Trinidad & Tobago each year (it will be on the 18th January 2016) and we welcome delegations from around the world to the event. This is an ideal time for Chinese investors and business people seeking new markets to visit Trinidad & Tobago and to learn more about our sector.

The first group of Chinese immigrants to ever set foot on the island of Trinidad arrived on 12 October 1806 on a ship called Fortitude. They came from Macao, Penang and Canton, and the British colonials who received them imagined that they would establish themselves as farmers and laborers. But these inaugural immigrants displayed far more fortitude than their host country had expected, and before long, those who decided to remain on the island had forged their legacy and established themselves as butchers, shopkeepers, carpenters and market gardeners.

Ever ambitious and eager to succeed, a second wave of Chinese immigrants made their way to Trinidad from Guangdong Province – an area comprising Macao, Hong Kong and Canton at the time – during the period between 1853 and 1866, after the abolition of slavery. This movement was part of a larger, global migration from China to countries beyond Asia’s perimeters, including Australia, Canada, the United States, and various nations within the Caribbean. Some paid for their passage to the New World by offering their services as indentured laborers; others came independently, to seek their fortune.

And so it was for the third wave of immigrants from China between the 1920s and 1940s, who made the journey across the Pacific – often at the encouragement of family and friends who had already made a life for themselves – to the recently unified island nation, Trinidad and Tobago. This group, too, became successful merchants, peddlers, traders and shopkeepers.

All this time, Chinese immigrants had been bringing with them to the Caribbean island their unique customs, traditions, religion, games, and artifacts, but with the fourth and fifth “wave” of immigrants, this phenomenon became evident in a different arena: commerce.

By the 1970s, when China started opening up to the outside world, Chinese migration to Trinidad and Tobago picked up pace once again, and with China’s recent exposure to international trade and commerce came the arrival of a class of shopkeepers and businesspeople that, in some ways, can be seen as a precursor to the burgeoning growth in the import-export sphere that began a few decades later.

Maria Lee, the founder of Trinidad and Tobago’s Chinese Arts and Culture Society and a respected businessperson in her own right, was among those who arrived in the fourth wave. Lee said that when she first arrived, her family set up a shop in San Fernando and began selling goods from China to the locals with surprising ease. Lee’s passion for the promotion of Chinese culture eventually led her to open the Chinese Arts and Culture Societyin 2011. “The preservation of Chinese culture” was an endeavor which the then-Ambassador said was “important in the development of continuing harmonious relations between Trinidad and Tobago and China.”

And so the story of the Chinese in Trinidad and Tobago began, and with it, the start of a fruitful relationship. Though it has long been considered a mutually beneficial one, in recent years, China’s relations with Trinidad and Tobago have entered a new era, unsurpassed in the strength of the two nations’ diplomatic ties and, indeed, in their mutual economic interests too.

China’s optimism in the region as a whole has been a major contributing factor to the strengthening of these ties. Its series of generous pledges of financial assistance to Latin American and Caribbean countries began in earnest in 2011, when Vice Premier Wang Qishan committed to a loan of US$ 1 billion for countries with membership to the Caribbean Community and Common Market (CARICOM) during his visit to the Caribbean. The loan was intended to support local economic development, and was supplemented by a US$ 1 million donation to the CARICOM Fund.

Two years later, in 2013, President Xi Jinping announced a US$ 3 billion scheme for concessional financing for Caribbean countries, half of which was allocated to preferential buyers’ credit, and the remainder to infrastructural development. An additional US$ 35 billion was pledged for infrastructural development projects for the Community of Latin American and Caribbean States (CELAC)’s member nations.

According to Trinidad and Tobago embassy officials in China, the billions of dollars pledged in financial assistance to Latin American and Caribbean Countries will lead to “an intensification in trade, investment and tourism activities between China and LAC Countries, including Trinidad and Tobago.”

Such intensification has become increasingly evident in recent years, both in the public and private sectors. The largest scale example of private Chinese investment in the region is easily the construction of a shipping canal through Nicaragua, connecting the Atlantic and the Pacific. The HKND Group, the privately-held international infrastructure development firm headquartered in Hong Kongwhich is getting ready to implement the gargantuan project, estimates that the canal will cost US$ 50 billion and take five years to build. The firm’s Chairman and CEO, Chinese billionaire Wang Jing, told the BBC in a rare interview, “This canal is connecting East and West.”

This project is one example of how bullish state investment often causes private investors to follow suit, and if there’s one sector where investment from both China’s government and several state-owned enterprises has shown immense enthusiasm in the region, it is infrastructure.

But Chinese investment in Trinidad and Tobago goes far beyond infrastructure, too. “China has been deeply involved in development activities through trade, investment and other financial programs as well as technical cooperation in health care, sport, education, agriculture, science and technology and national security,” so said embassy officials at an Investment Trade Fair in Lanzhou, Gansu Province in July 2015.

“To help in making all of this happen, the following are some of the Chinese companies who have been operating in Trinidad and Tobago or are seriously thinking of going there to invest: Shanghai Construction, China Harbor, China Railway, Sinohydro, , TBEA, Shandong Weimer [and] Beijing Construction.”

The Caribbean nation, which is among the few countries in the region to have a primarily industrial economy, attributes its wealth to its large reserves and exploration of oil and natural gas. The country’s experience in the energy sector makes it an ideal location from which to harness the vast potential of the renewable energy market, too. With Chinese firms leading several innovations in this field, we can expect to see increased investment in this particular sector of Trinidad and Tobago’s economy. Indeed, Trinidad and Tobago is already leading the trend to reduce greenhouse gases in this part of the world.

As far as energy is concerned an audience of would-be investors earlier this year in Lanzhou were informed that, “Trinidad and Tobago has been in this business for over one hundred years and our economy is still heavily dependent on this sector. We have played our part in contributing a healthier environment by producing large quantities of clean fuels by being second largest exporter of Methanol and a significant exporter of [Liquefied Natural Gas] LNG.”

According to the Oxford Business Group, which publishes investment and economic reports on over 30 countries, “The energy sector remains the backbone of T&T’s economy… accounting for 42% of GDP in 2014, 80% of exports from April 2013 to May 2014, and 34.8% of fiscal revenues for the period from October 2013 to September 2014.”

Trinidad and Tobago is intent on reducing its (negligible) carbon footprint. “even though it accounts for less than 1% of global greenhouse gas emission, the government remains committed to playing its part in achieving the stabilization of Carbon Dioxide levels consistent with the U.N. framework convention on climate change (UNFCO).”

The country was, in fact, referred to by the U.N. Secretary General as the “regional leader” in implementing the U.N. Post 2015 Development Agenda, and was congratulated for having surpassed several Millennium Development Goals after a recent CARICOM meeting in Barbados.

In addition to being an appealing choice of location for investment in the production of alternative energy sources, including wind and solar power, Trinidad and Tobago offers alluring incentives for investing in downstream energy-based industries, information and communications technology (ICT) services, agriculture, tourism (including health and eco-tourism), entertainment (including sports, leisure, entertainment and the film industry), financial services, manufacturing, and the creative industries.

With such commitment on Trinidad and Tobago's part to attracting Chinese investment. it is little wonder that the two countries celebrated 40 years of Diplomatic Relations. The countries enjoy excellent relations, have celebrated deep historical and cultural ties and have entered a new era of trade, investment and tourism promotion as well as technical cooperation. It is clear that Trinidad and Tobago has become a pivotal partner for China in the Caribbean and, despite being a physically small island nation; it is run on very sturdy ground.

Trinidad and Tobago is the third richest country by GDP (Purchasing Power Parity) per capita in the Americas after the United States and Canada. In addition, the country’s GDP per capita has grown continuously since 1990. It is recognized as a high income economy by the World Bank, and was ranked 37 out of 148 countries for the soundness of its banks in the Global Competitiveness Index (GCI) of 2013. It boasts a 95.6% literacy rate, and the country’s availability of scientists and engineers puts it at 48th in the world as measured by the GCI. It is a stable democracy populated by talented people who continuously strive to improve. Indeed, the country places 61st in the World Bank ranking of all countries for the ease of doing business, which – when it comes down to it – is what investors are usually most interested in.

Foreign investors in Trinidad and Tobago can open a business in just three days with the assistance of the government’s investment arms, National Energy and InvesTT, which endeavors to “ensure that you possess all the knowledge, tools, linkages and facilitation your organization needs to efficiently navigate the way to new business opportunities in our nation. Foreign investors are allowed to own 100% of their business, and to purchase up to one acre of land for residential purposes, and up to 5 acres for trade or business purposes, without requiring a license to do so. 100% of business profits can be repatriated, and up to 30% of the share capital of a local public company owned, without a license.

As far as the country’s currency is concerned, the last 20 years have seen the Trinidad and Tobago dollar remain very stable as a free floating currency. The fact that it is based on a floating peg system to the US dollar means that foreign exchange risks are significantly reduced. The Oxford Business Group stated in their extensive publication, The Report: Trinidad and Tobago 2015, “The country’s low debt ratio, substantial foreign reserves and the momentum provided by major infrastructure projects should ensure stability in 2015 and beyond.”

Latin America, the Caribbean, and Trinidad and Tobago in particular, have a lot to offer both China and the various other countries in the swathe of land that currently comprises the Belt and Road’s expanse. Trinidad and Tobago, once a small but promising outpost to which Chinese immigrants travelled to improve their fortunes has established itself as a well-connected and integral player in the global economy, and embassy officials are well aware of the value – and the effects – of global connectivity. Officials are quoted as saying “In this truly globalized world, everything that takes place along the One Belt and One Road…will impact the rest of us regardless how far removed we are, physically, from this region.”

The embassy has further stated that “Trinidad and Tobago is open for business and is ready to welcome Chinese business people with the red carpet treatment.” And, whether or not there is a single Belt and Road along which to spread the proverbial red carpet, Trinidad and Tobago will do whatever it takes to make sure it is extended to China.

Welcome to Trinidad and Tobago, your gateway to the Americas. Backed by over 100 years of success in the energy sector and a proven track record of foreign direct investment, Trinidad and Tobago is the leading Caribbean producer of oil and natural gas. In addition, Trinidad and Tobago is the largest exporter of ammonia and methanol from a single site and also is home to the sixth largest exporter of liqueﬁed natural gas (LNG) globally. As a result, Trinidad and Tobago has earned a reputation as an excellent investment destination for international businesses and has one of the highest growth rates and per-capita incomes in the Caribbean and Latin America.

The energy sector has encouraged growth in downstream areas. At Point Lisas, home to the island’s massive industrial estate and port facilities, there are investments in ammonia, methanol and other petrochemicals manufacturing, food and beverage, steel and electrical goods. Other industrial estates are also taking shape on the western peninsula of the island. At the forefront of all petrochemical and energy-based industrial development is National Energy Corporation of Trinidad and Tobago Limited (National Energy).

National Energy has pioneered several energy related developments in Trinidad and Tobago and as a result of our wealth of experience, we are poised and ready to welcome the Chinese business community to broaden its participation in Trinidad and Tobago’s world – renowned energy sector. We are the State organisation responsible for the conceptualization, development, promotion and facilitation of new energy based and downstream industries in Trinidad and Tobago.

Today, National Energy places particular emphasis on the downstream energy and gas-based industry. We seek to maximize the beneﬁts of the country’s natural resources by developing a diversiﬁed portfolio of projects that go further downstream the energy value chain.

Building upon the successes in establishing our methanol and ammonia industries , we are now pursuing new businesses that will not only provide added value by going further down the gas value chain but will also offer new opportunities for investment, employment creation and contribute to the sustainable development of the country. As such we are actively seeking to develop an inorganic chemical industry in Trinidad and Tobago via companies desirous of establishing both integrated and or stand-alone inorganic chemical production facilities. Other areas of focus for development are Plastics, Metals, Renewables, Biochemical and Specialty chemicals industries.

In promoting the continued advancement of the local downstream energy sector, National Energy ensures the timely establishment and availability of industrial deep water ports and industrial estates to support the industries.

Currently the largest Caribbean exporter to the USA and with access to regional and international markets of over 90 million people, Trinidad and Tobago is the bridge to a ready market, which is close proximity and with which there are numerous trade agreements, for Chinese companies wanting to grow their businesses in the Americas. With a skilled and highly motivated workforce backed by a steady ﬁnancial climate and tax regime, Trinidad and Tobago will prove to be an ideal investment location for you.